Consequences of the treasury single account policy on the wealth of Nigerian commercial banks’ shareholders

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dc.citation.issue9
dc.citation.volume54
dc.contributor.authorMoses O
dc.contributor.authorEhalaiye D
dc.contributor.authorMaimako S
dc.contributor.authorFasua K
dc.date.available2018
dc.date.issued3/09/2017
dc.descriptionThis is an Accepted Manuscript of an article published by Taylor & Francis in EMERGING MARKETS FINANCE AND TRADE on 16 January 2018, available online: http://www.tandfonline.com/10.1080/1540496X.2017.1356715
dc.description.abstractWe examine the impact of the Nigerian government’s Treasury Single Account (TSA) policy to withdraw the funds of Ministries, Departments and Agencies from commercial banks. Following the economic policy uncertainty theory, we use an event study methodology to measure the impact of the TSA policy on shareholders’ wealth. Our results show that the announcements and subsequent final implementation of TSA policy caused negative abnormal returns and losses on the wealth of the commercial banks’ shareholders. The paper contributes to the literature on stock market reaction to policy announcements and the unintended consequences government policy can have in an emerging economy.
dc.description.publication-statusPublished
dc.format.extent2078 - 2092
dc.identifierhttp://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000433135700010&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=c5bb3b2499afac691c2e3c1a83ef6fef
dc.identifier.citationEMERGING MARKETS FINANCE AND TRADE, 2018, 54 (9), pp. 2078 - 2092
dc.identifier.doi10.1080/1540496X.2017.1356715
dc.identifier.eissn1558-0938
dc.identifier.elements-id360798
dc.identifier.harvestedMassey_Dark
dc.identifier.issn1540-496X
dc.identifier.urihttps://hdl.handle.net/10179/16900
dc.publisherTaylor & Francis (Routledge)
dc.relation.isPartOfEMERGING MARKETS FINANCE AND TRADE
dc.subjectevent study
dc.subjectmarket reaction
dc.subjectNigeria
dc.subjectTreasury Single Account (TSA)
dc.subjectvaluation
dc.subject.anzsrc1402 Applied Economics
dc.subject.anzsrc1502 Banking, Finance and Investment
dc.titleConsequences of the treasury single account policy on the wealth of Nigerian commercial banks’ shareholders
dc.typeJournal article
pubs.notesNot known
pubs.organisational-group/Massey University
pubs.organisational-group/Massey University/Massey Business School
pubs.organisational-group/Massey University/Massey Business School/School of Accountancy
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